BusinessMediaguide.Com

Summary List Placement Lawmakers are setting the stage to hold back-to-back votes Sunday on a $900 billion federal rescue package. But both parties still haven’t brokered a broader deal and several policy obstacles remain, which could still push final passage into Christmas week. House Speaker Nancy Pelosi told reporters on Capitol Hill on Sunday that […]

Summary List Placement I generally don’t like to make year-end predictions, but watching Congress debate another coronavirus aid package makes it almost impossible not to make at least one. So here goes: Next year, the stupidest argument we’ll hear in Congress will be that we need to cut spending on government services or programs to […]

Summary List Placement Senate Minority Leader Chuck Schumer suggested that negotiators were making progress and Congress could vote on a $900 billion stimulus package as early as Sunday.  Speaking to reporters on Capitol Hill late Saturday night, Schumer said Republicans and Democrats were “getting very close” to a deal.  “If things continue on this path […]

Summary List Placement A late Republican push to curtail the Federal Reserve’s lending authority formed a major roadblock in stimulus negotiations on Saturday — and it threatens to stretch the talks on a $900 billion emergency spending package into next week. The clash over the Fed between Republicans and Democrats appeared to intensify on Capitol […]

Summary List Placement The pandemic has had a devastating toll on millions of Americans this year, putting many families in difficult financial situations. Lockdowns, pandemic-related closures, and the spread of the disease itself have put millions of Americans out of work and uncertain about when they will find a new job. Millions of households are […]

Summary List Placement Republicans and Democrats are struggling to settle longstanding policy differences in negotiations over what’s expected to be a $900 billion emergency spending package.  “It’s a little bit of whack-a-mole, you know, whack it here and something else pops up,” Sen. John Thune of South Dakota, the second-ranked Republican, told reporters on Capitol […]

United Wholesale Mortgage’s (UWM) much-anticipated Wall Street debut is expected to take place on Jan. 22, 2021, the company told HousingWire late Thursday. UWM, the nation’s second-largest mortgage originator by volume, is going public through a merger with a publicly-traded special purpose acquisition company headed by businessman Alec Gores. The merger, announced in September, could […]

Summary List Placement Congress is reportedly close to agreeing on a $900 billion stimulus package, but a new proposal from Republican Sen. Pat Toomey threatens to derail talks ahead of a midnight deadline. The senator argued on Thursday that a new condition should be added to the deal that limits the Federal Reserve’s ability to […]

With LIBOR slated to be phased out at the end of 2021, industry trade group Structured Finance Association sent a letter this week to New York Gov. Andrew Cuomo and the state’s legislative leaders asking them to support Secured Overnight Financing Rate (SOFR) index as the standardized benchmark rate. LIBOR is commonly used in setting […]

Summary List Placement The $900 billion relief package that’s taking shape in Congress is set to do a lot of good once it’s passed. It will extend and enhance unemployment benefits for Americans who remain out of work nine months into the coronavirus crisis. It will provide support that keeps small businesses open and employees […]

Summary List Placement President Donald Trump’s advisors talked him out of calling for $2,000 stimulus checks in the next federal rescue package since it could derail the ongoing relief negotiations on Capitol Hill, The Washington Post reported. The newspaper cited two sources familiar with the events. The Post reported that Trump held a phone call […]

Summary List Placement During a recession, the talk of economic recovery in shapes named after letters is one way for economists to forecast the financial future. When you hear these shapes — U, V, and W, for example — analysts are talking about how the recovery period may look if plotted onto a graph that […]

Summary List Placement Though rarely pleasant, recessions are a normal part of the business cycle, the regular course of rise and fall that all free-market economies run. All recessions begin the same way, with a significant period of economic decline. But how they end can happen in a whole host of different ways. Economists dub […]

The Federal Housing Finance Agency is looking to finalize a rule that would require Fannie Mae and Freddie Mac to hold higher levels of liquidity to protect against any sudden shortfalls, creating a further $10 billion cushion for the publicly-held mortgage companies. The measure – which is now up for final comment after previously having been implemented […]

Summary List Placement Sunnier locales, lower taxes, and a more affordable cost of living. California’s tech elite and New York’s financiers are in pursuit of all three, and they’ve found that trifecta in Texas and Florida. Out west, there’s a Silicon Valley exodus to Texas, headlined by Elon Musk’s and Oracle’s moves to the Lone […]

The average U.S. mortgage rate for a 30-year fixed loan fell four basis point this week to 2.67% – the lowest rate in the Freddie Mac’s Primary Mortgage Market Survey’s near 50-year history. This week’s mortgage rate broke the previous record set on Dec. 3 and is the first time the survey has witnessed it fall below […]

Summary List Placement It’s taken forever to get a second round of coronavirus aid to Americans, and now that Congress is inching closer to what seems like maybe-could-possibly-be-here’s-hoping-will-be a deal, the sticking points are coming down to the GOP’s deprivation fetish. Republicans still want to parse out which Americans are and are not worthy for […]

Summary List Placement For once, the rent isn’t too darn high. Since the onset of the coronavirus pandemic, the New York City rental-apartment market has been rocked by falling prices and rising vacancy rates. The jolt follows a mass exodus of Big Apple residents to the suburbs, hometowns, vacation-home hotspots, warm-weather retreats and other less-dense […]

United Wholesale Mortgage is facing a potentially ugly court battle from its own constituents. Three mortgage brokers in California claim that UWM pulled the rug out from beneath them in March when it changed the commission structure on mortgages that were quickly paid off by borrowers. The lawsuit is seeking class-action status.  On March 12, […]

Summary List Placement The Federal Reserve revealed new economic estimates on Wednesday that see the US economy staging a healthy recovery through 2021.  Federal Open Market Committee members expect US gross domestic product to contract 2.4% in 2020 before climbing 4.2% in 2021, according to projections published Wednesday. The forecast signals the country will fully recover […]

Summary List Placement In the past five months alone, some 7.8 million Americans fell into poverty, according to a new report released Wednesday by researchers at the University of Chicago and the University of Notre Dame.  In order to fall below the federal poverty line, one has to have an income at or below $12,000, […]

After three successive months of record highs, the National Association of Home Builders and Wells Fargo Housing Market Index measuring builder confidence fell four points to 86 in December. Though the index fell from it’s 35-year series high, it is still the fourth month in its history the score broke 80. In December, all HMI indices, including current sales […]

In a lawsuit filed last week, a mortgage brokerage claimed that one of its former loan officers stole a database containing client names and information and brought it with him to a new job at NEXA Mortgage. Smart Mortgage, which operates in Illinois, Indiana, Colorado and Florida, filed suit against former senior loan processor Brian […]

Summary List Placement A key measure of US economic activity snapped a two-month streak of improvements as soaring COVID-19 case counts prompted new restrictions in December. IHS Markit’s flash composite index of US business activity fell to 55.7 from 58.6 this month, according to a Wednesday release. The reading marks the gauge’s lowest level since […]

Summary List Placement SEE ALSO: American billionaires’ net worths have grown to $4 trillion during the coronavirus pandemic Join the conversation about this story » NOW WATCH: A cleaning expert reveals her 3-step method for cleaning your entire home quickly details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: BusinessInsider.Com

Summary List Placement Republicans and Democrats are nearing a deal on a $900 billion relief package on Wednesday morning, The Washington Post reported. It would mark a breakthrough with a last-minute spate of negotiations between top congressional leaders. Negotiations between Speaker Nancy Pelosi, Senate Minority Leader Chuck Schumer, Senate Majority Leader Mitch McConnell, and House […]

Summary List Placement Large tax cuts for the rich don’t lead to economic growth and employment, and instead cause higher income inequality, a new study that examined tax cuts over 50 years has suggested. Tax cuts for the rich in 18 wealthy countries predominantly benefited the wealthy, according to a paper by David Hope of […]

After two weeks of decreases, the Mortgage Bankers Association reported that mortgage applications increased 1.1% during the week ending Dec. 11 amid mortgage rates that hit a new survey low. In its latest weekly survey the MBA said the 30-year fixed mortgage rate dropped five points to 2.85% – due, partly, to uncertainty over the prospects of […]

Summary List Placement Aid for local governments has been framed as a “blue state bailout” by some Republicans, including Senate Majority Leader Mitch McConnell and outgoing President Donald Trump. That aid, in turn, has stalled in Congress, with reluctant conservatives tying any agreement to help struggling cities and states with indemnity for businesses facing potential […]

Summary List Placement A group of 17 progressive Democrats are pushing Congressional leaders to include $2,000 stimulus checks in the next coronavirus relief package.  In a letter obtained by Business Insider, the liberal assortment of House Democrats urged Speaker Nancy Pelosi, Senate Minority Leader Chuck Schumer, Senate Majority Leader Mitch McConnell and House Minority Leader […]

Summary List Placement MacKenzie Scott, one of the world’s richest women and the ex-wife of Amazon CEO Jeff Bezos, has announced that she’s given away nearly $4.2 billion to 384 organizations across the US in the past four months.  The news comes as she continues her quest to give away much of her wealth since […]

Summary List Placement Senate Majority Leader Mitch McConnell vowed Tuesday that Congress would not adjourn for the year until they pass a new stimulus plan, in the surest sign yet that lawmakers will send a relief bill to President Donald Trump’s desk before the end of the year.  “We’re not leaving here without a COVID […]

New home purchases in November 2020 increased 34.7% from a year ago, but new home applications decreased from October, according to the Mortgage Bankers Association builder application survey. New home applications decreased 16% from October, said Joel Kan, MBA associate vice president of economic and industry forecasting. “November new home sales activity, both mortgage applications […]

Summary List Placement US factory output gained more than expected in November as auto manufacturing continued to outperform despite rising COVID-19 cases. Manufacturing output rose 0.8% last month, according to Federal Reserve data published Tuesday. Economists surveyed by Bloomberg expected a 0.4% climb. Industrial production grew 0.4% and now sits roughly 5% below its pre-pandemic […]

Summary List Placement One of the main sticking points in the negotiations over another round of coronavirus relief is aid to state and local governments — Democrats want more of it and most Republicans do not. It looks increasingly likely that lawmakers will agree to a package that excludes what had been a bipartisan plan […]

Homebuyer, an Ohio-based software startup offering digital mortgages to first-time home buyers, announced on Monday it had snagged $1.4 million in a seed round from private investors. The company was founded in 2019 by Dan Green, under the mission to make homeownership more inclusive and less expensive for first-time borrowers. An ex-software engineer, Green is […]

The total number of loans in forbearance decreased from 5.54% to 5.48% as of Dec. 6, according to the Mortgage Bankers Association. Fannie Mae and Freddie Mac loans in forbearance decreased to 3.26% – an 8-point improvement. Ginnie Mae loans in forbearance decreased 21 points to 7.68% Despite a dramatic point improvement, borrowers are still […]

Summary List Placement Elon Musk has moved to Texas. The Tesla and SpaceX CEO confirmed the news on Tuesday at a virtual conference hosted by The Wall Street Journal. “For myself, yes, I have moved to Texas,” Musk said, adding that SpaceX was developing its Starship spacecraft in South Texas and that construction of Giga […]

Summary List Placement The upcoming meeting of the Federal Open Market Committee might offer fresh clues as to when the US central bank will begin to pull back on its economic relief efforts. The FOMC is scheduled to meet on Tuesday and Wednesday, with Wednesday’s meeting concluding with the release of new economic projections and […]

What a crazy year we have all been through. Last year, I visited Japan, London, Puerto Rico, Oregon and Las Vegas twice. This year I had fewer visits than that to my local barber and I was ecstatic to be there. This was the year we relearned to appreciate small things. Adventure and excitement were […]

Summary List Placement Zoë Pollard graduated in May 2020 from The New School in New York, where she studied film. Pollard said she was doing a lot of freelance work and internships while she was still in school. When the pandemic hit, she moved back in with her parents in Connecticut, where she has been […]

Summary List Placement President Donald Trump is spending his final weeks in office urging Congress to include another round of coronavirus stimulus checks in the next relief package. Speaking to Fox News’ Brian Kilmeade, Trump said he wants stimulus checks to be approved for “more money” than the options currently on the table.  “I’m pushing […]

Summary List Placement A house one mile from Joshua Tree National Park, California, is on sale for $3.5 million – and it hasn’t even been built yet. TheConstruction is set to start next year for the property, known as “Starburst House,” which will be made from 21 shipping containers linked together to look like an […]

Summary List Placement In a recent video, Angela Marsden stands in front of her Los Angeles restaurant, Pineapple Hill Saloon & Grill. “I’m losing everything,” Marsden says. “Everything I own is being taken away from me.”  Marsden has been forced to shut down outdoor dining at her restaurant due to Los Angeles’ stay-at-home order. In […]

Summary List Placement Economists largely agree that a lack of state and local government aid stifled growth after the financial crisis. A plunge in tax revenues led to cost-cutting, forcing public workers out of jobs and freezing key aid programs — despite federal efforts to revive a sputtering economy in 2009 through an $830 billion […]